The Insurance Situation.
One of the results of the investigation conducted by the Armstrong committee into the affairs of the New York and the Mutual Life insurance companies was the enactment of legislation providing that the affairs of the two companies should be taken out of the hands of the existing boards of trustees, that all outstanding proxies should be invalidated and that the policy holders should be given an opportunity to choose the men who should thereafter manage the affairs of the two companies. In pursuance of this law the policy holders began voting on Nov. 18 and continued to cast their ballots for or against the administration tickets until Dec. 18. In the New York Life the administration ticket consisted of “the best of the old trustees,” together with some new blood, while an opposition ticket was presented by the International Policy-Holders Committee, of which the Hon. Richard Olney was chairman. In the Mutual contest there were three tickets: an administration ticket, the United Committee’s ticket and a fusion ticket. The second of these was so called because it was the product of the united efforts of the Mutual Policy Holders’ committee and the International Policy Holders’ committee of which Mr. Samuel Untermyer was the chief organizer and sponsor. The fusion ticket was made up of candidates from the administration and the Mutual Policy Holders’ respective rosters. At the time we go to press the result of the elections is not known.
ROBERT E. PEARY.